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Alternative Market Briefing

Hedge funds basically flat in 2015 according to BarclayHedge database

Wednesday, January 20, 2016

Komfie Manalo, Opalesque Asia:

Data provider BarclayHedge reported that the hedge funds space was almost flat last year after returning its smallest year gain since 2011 when it declined 5.48%.

The Barclay Hedge Fund Index declined 0.64% in December but was up 0.29% at the end of 2015. The Index was unable to outperform the S&P 500 Total Return Index, which gained 1.38% last year.

"The year ended on a down note for risk assets as investors pondered the implications of slowing growth after several years of tepid recovery," said Sol Waksman, founder and president of BarclayHedge.

Eleven of Barclay’s 18 hedge fund indices lost ground in December. Distressed securities were down 1.54%, equity long bias lost 1.35%, the Global Macro Index was down 1.08%, convertible arbitrage lost 0.96%, and the Emerging Markets Index gave up 0.59%.

"Lead by a 10% decline in oil, commodity markets remained under selling pressure. The impact of the continued drop in oil prices also weighed heavily on energy related equities, currencies of commodity exporting nations, and high yield debt which finances fracking operations in the U.S.," said Waksman.

On the positive side, the Merger Arbitrage Index was up 1.20% in December, Pacific rim equities gained 1.07%, European equities were up 0.79%, healthcare and biotechnology gained 0.64%, and the Equity Market Neutral Index added 0.55%.

Merger Arbitrage a consistent winner......................

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